Phnom Penh, April 18, 2024 - The garment, footwear, and travel goods industry in Cambodia has reported a significant uptick, marking a 20 percent increase in exports, which totaled US$2,941 million in the first quarter of 2024. The impressive figures indicate a steady climb from US$2,449 million during the same period the previous year, as stated in a report from the General Department of Customs and Excise.
The details reveal a buoyant textile and apparel sector with exports reaching US$2,167 million, surging by 23 percent compared to US$1,759 million recorded last year. Footwear exports also witnessed growth, accumulating US$346.3 million, representing a 6.9 percent rise from US$323.7 million. Moreover, the travel goods sector experienced a 16.6 percent increase, securing US$427.9 million in exports compared to US$366.7 million in the preceding year.
According to Mr. Ly Khun Thai, President of the Cambodian Footwear Association, the nation's economic pillars of peace, political stability, and an open economy, coupled with unwavering governmental support for investors, have attracted fresh investments and led to the establishment of new garment factories. This industry expansion not only generates employment for the locals but also significantly bolsters the country’s economic growth trajectory.
The early months of 2024 have seen the Cambodian textile and garment industry flourish, as factories ramp up production to meet the escalating demand from international buyers. The United States and the European Union remain the primary export markets for Cambodia’s textiles, garments, footwear, and travel goods, underscoring the industry's vital role in the nation's economy.
Home to approximately 1,300 factories and branches, Cambodia's garment, textile, footwear, and travel goods sector serves as the country's top foreign exchange generator. The industry notably provides employment to nearly 900,000 workers, the majority of whom are women, making it not just an economic powerhouse but also a crucial employer in the region.
This positive growth trajectory underpins the resilience and potential of the Cambodian economy, highlighting the country's expanding footprint in the global apparel and footwear market.
